Bitcoin Topside Bias Could Be Vulnerable Below $9,500 And 100 SMA

Bitcoin failed to climb above the $9,950 and $10,000 resistance levels against the US Dollar. BTC price is currently plunging and it is now vulnerable to more losses below $9,400. Bitcoin is down more than 3% from the weekly high and it is now showing bearish signs. The price is trading well below the $9,600 level and the 100 hourly simple moving average. There was a break below a major contracting triangle with support near $9,600 on the hourly chart of the BTC/USD pair (data feed from Kraken). The pair…

Algorand Targets Insurance Fraud With New Partnership

Distributed ledger technology (DLT) firm Algorand has partnered with blockchain-based tamper-proof media verification platform Attestiv to target fraud within the insurance industry. The firms will combine their tech to develop a single platform for verifying digital media for a multitude of stakeholders across the insurance sector — including insurers, customers, repair vendors and carriers. Media is validated using Attestiv’s AI-based platform “either at the point of capture or via forensic analysis” before being “fingerprinted” and uploaded to Algorand blockchain to create an immutable record of the validated documentation. Alogrand COO…

Coinbase Will Allow Employees to Work Remotely After Lockdown

U.S. crypto exchange Coinbase has announced it will transition to a “remote-first” workplace after the pandemic lockdown is over in an effort to guard against location-centric risks and to improve decentralization. In an open letter to all employees, Coinbase CEO Brian Armstrong said: “After the restrictions of quarantine are over, Coinbase will embrace being ‘remote-first’, meaning we will offer the option to work in an office or remotely for the vast majority of roles.” An estimated 20% to 60% of all Coinbase employees will continue to work remotely once all…

No, ISIS Does Not Have $300M in a Bitcoin ‘War Chest’

Blockchain forensics firm Chainalysis has published a report debunking a number of popular narratives surrounding the use of crypto to finance terrorism. The report emphasizes the harm of false reporting in spreading misinformation and damaging the reputation of firms operating with virtual currencies. As “a trusted investigative partner to governments around the world, preventing terrorists from using cryptocurrency is one of our primary objectives,” Chainalysis states. “It’s a serious task, and it’s important to be responsible and judicious when releasing information on a subject as consequential as terrorism financing.”  Chainalysis…

Craig Wright Denies Transferring ‘Satoshi’ Coins, Leaving Him in Legal Catch-22

Bitcoin’s SV’s billionaire benefactor Calvin Ayre revealed Satoshi claimant Craig Wright has denied moving 50 BTC from a long-dormant address thought by some to belong to the Bitcoin founder.  On Wednesday, an unknown party moved 50 BTC ⁠— roughly $486,000 worth — from an address containing coins mined barely one month after the launch of the Bitcoin mainnet in 2009.  But in a Twitter response to Blockstream’s Adam Back, Ayre said it had nothing to do with Wright: It was NOT Satoshi, I just spoke with him and Craig confirmed…

Chinese Police Arrest 12 Fake ‘Huobi Officials’

Chinese authorities have dismantled a group of alleged scammers posing as Huobi exchange officials, who were operating an over-the-counter (OTC) website. As reported by local media outlet Jinse, on May 20 police arrested 12 suspects in Guangdong province believed to be behind the scheme, after an investigation found that WeChat crypto trading groups had been infiltrated from November 2019. Scammers persuaded victims to invest in the fake OTC platform, which was used for money laundering, and then sent the defrauded money to overseas accounts. Fraud committed through WeChat Local authorities…

New Partnership Adds Crypto Payment Routes on Shopify

A partnership with crypto payment processor CoinPayments means bolstered digital asset payment compatibility for Canadian e-commerce giant Shopify.  “Shopify is a natural fit for us,” CoinPayments CEO Jason Butcher told Cointelegraph via email, adding: As they look to bring new features to their merchant base and CoinPayments works to drive cryptocurrency adoption globally, it makes sense to create an integration that enables easy, secure, and cost-effective transactions.” Shopify sellers can accepts thousands of assets Shopify sellers can now harness CoinPayments’ digital asset payment processing platform, paving the way for sellers to accept…

Cardano Development Company to Join Hyperledger Project & W3C

IOHK, the company charged with the development of Cardano (ADA) will be joining the Hyperledger Project and W3C. Cardano founder and CEO and co-founder of IOHK, Charles Hoskison, in a recent Cointelegraph interview, confirmed that the company will be joining the two organizations. Will help with bidding process Hoskinson believes that IOHK will benefit from their shared knowledge. He also feels that the partnership will give it an edge in the bidding process: “We would like to start consolidating some of our enterprise ledger ideas and bring it there, “A”, …

Legendary Cryptographer on Building the First Blockchain in The ’90s

In an exclusive interview with Cointelegraph, renowned cryptographer Jean-Jacques Quisquater discusses building the internet’s first blockchain in the 1990s and being cited in the Bitcoin Whitepaper. In 1989, Quisquater began working on transitioning media from analog to digital systems for Philips Research Lab in Brussels, where he had been working for 19 years. “The goal was to take a current (analog) situation in real life, and find out how to handle it in digital systems,” said Quisquater.  We did that for analog signatures, time, location … and we discovered many…